Robert W. Baird Reiterates $200.00 Price Target for Costco Wholesale Corporation (COST)
Costco Wholesale Corporation (NASDAQ:COST) received a $200.00 price objective from equities research analysts at Robert W. Baird in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the retailer’s stock. Robert W. Baird’s target price would suggest a potential upside of 19.73% from the stock’s previous close.
COST has been the subject of several other research reports. Vetr upgraded shares of Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 target price for the company in a report on Monday, August 21st. Deutsche Bank AG reiterated a “hold” rating and issued a $172.00 target price on shares of Costco Wholesale Corporation in a report on Tuesday, September 5th. BidaskClub cut shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. BMO Capital Markets set a $160.00 price target on shares of Costco Wholesale Corporation and gave the company a “hold” rating in a research report on Tuesday, August 29th. Finally, Cowen and Company set a $180.00 price target on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a research report on Saturday, July 22nd. Twelve research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $177.93.
Shares of Costco Wholesale Corporation (NASDAQ:COST) opened at 167.07 on Wednesday. The company has a 50 day moving average price of $160.00 and a 200-day moving average price of $164.90. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. The stock has a market cap of $73.28 billion, a price-to-earnings ratio of 29.01 and a beta of 0.94. Costco Wholesale Corporation also was the recipient of some unusual options trading activity on Thursday. Traders acquired 21,435 call options on the stock. This represents an increase of approximately 266% compared to the typical volume of 5,855 call options.
Costco Wholesale Corporation (NASDAQ:COST) last posted its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The firm had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. During the same quarter last year, the firm earned $1.77 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities analysts predict that Costco Wholesale Corporation will post $5.78 earnings per share for the current fiscal year.
In related news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total transaction of $159,250.00. Following the completion of the transaction, the director now owns 4,974 shares of the company’s stock, valued at $792,109.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 3,000 shares of company stock valued at $481,760 in the last ninety days. 0.74% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Delta Asset Management LLC TN increased its position in shares of Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after acquiring an additional 65 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of Costco Wholesale Corporation in the second quarter worth $101,000. Northwest Investment Counselors LLC acquired a new stake in shares of Costco Wholesale Corporation in the second quarter worth $107,000. Mercer Capital Advisers Inc. increased its position in shares of Costco Wholesale Corporation by 3.5% in the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after acquiring an additional 23 shares in the last quarter. Finally, Mosaic Family Wealth LLC increased its position in shares of Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after acquiring an additional 100 shares in the last quarter. 72.35% of the stock is owned by hedge funds and other institutional investors.
About Costco Wholesale Corporation
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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